﻿<p>
    <strong>Should I insure my vehicle with or without COE and PARF?</strong><br />
    
    The market value of the vehicle includes the certificate-of-entitlement (COE) and
    preferential additional registration fee (PARF) component. If your vehicle is bought
    using hire purchase or a car loan scheme, the bank or finance company may require
    you to insure the vehicle at its open market value (OMV), including its COE and
    PARF. If you own the vehicle, it is your choice.<br />
    
    <strong>The benefits of insuring with COE and PARF are:</strong><br />
    
    If you do not wish to buy a new vehicle after a claim, you save yourself the trouble
    of having to find a buyer for the rebate. Your insurer will pay you the full value
    of the rebate, which otherwise would not have been refundable in cash.<br />
    Your insurer absorbs the loss in the sale of COE and PARF rebate since this is usually
    at a discount.
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